Malaysian economy returns to contraction as virus curbs hit
Published 12 Nov,2021 via Bloomberg Markets–Malaysia’s economy returned to contraction in the third quarter, the first Southeast Asian economy to report a renewed slump, amid a protracted lockdown and a spike in Covid cases.
Gross domestic product in the three months ended September shrank 4.5% from a year earlier, Malaysia’s central bank said Friday, worse than the 2.6% drop predicted by analysts in a Bloomberg survey. Compared to the previous three months, GDP fell 3.6% on a seasonally adjusted basis.
The slowdown was seen across all segments of the economy, Nor Shamsiah Yunus, governor of Bank Negara Malaysia, said in a virtual briefing, adding that monetary policy will remain accommodative to provide support and ensure price pressures are manageable.
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